Facebook Grabs Oculus VR

MARCH 26, 2014 • In a major surprise, Facebook Inc. has acquired Oculus VR Inc. for $400 million in cash and $1.6 billion in stock. The latter is the virtual reality technology company founded by 21-year-old Palmer Luckey who was an engineer at USC’s Institute for Creative Technologies, and built early interest in his product proposal through online forum chats. After id Software fou.....

Kabam Acquires Phoenix Age

MARCH 10, 2014 • Kabam, Inc. is bringing another independent studio under its banner, Phoenix Age. Financial terms of the acquisition were not disclosed. However, Kabam told the Wall Street Journal last month that it had more than $70 million in cash available. Since 2007 Kabam has raised $125 million through four funding series, and is actively considering an IPO. Phoenix Age is best known as a producer of RPGs for iOS devices and Facebook. Since 2010 Kabam has.....

King IPO is Filed on NYSE

FEB. 18, 2014 • After spending several years mulling over its options, skill games company King has filed for a $500 million IPO on the New York Stock Exchange. The maker of the popular Candy Crush Saga intends to use the symbol KING. Bank of America Corp., Credit Suisse Group AG, and JP Morgan Chase & Co. are the coordinators of the stock sale. Funds generated by the IPO will be appli.....

Funcom Investigated

JAN. 29, 2014 • Økokrim (the Norwegian National Authority for Investigation, Prosecution of Economic and Environmental Crime) is investigating Funcom N.V. regarding possible violation of Norway’s Securities Trading Act. At issue is financial information given by the MMO game developer to the market regarding The Secret World from August 2011 until the launch of the game in July 2012, and the two months following the launch. Suspecting market manipulation.....

Microsoft Acquires Gears of War IP

JAN. 28, 2014 • Epic Games’ Gears of War franchise has been acquired by Microsoft Studios. Financial terms were not disclosed but the deal secures the IP for Microsoft including rights to all existing and future games, entertainment experiences and merchandise. Vancouver, BC-based Black Tusk Studios will now be responsible for development of Gears of War product moving forward. In addition, Epic’s former Gears of War director of production Rod Fergus.....

Sony Online Entertainment Downsizes ProductSlate

JAN. 27, 2014 • Four prominent MMOs are being shut down by Sony Online Entertainment (SOE). The publisher announced that Clone Wars Adventures and Free Realms will be closed on March 31, with Vanguard: Saga of Heroes and Wizardry Online going away on July 31. As recently as two years ago Clone Wars Adventures had reached 10 million registered users. Free Realms had also proved popular early in its 2009 PC release, .....

John Pleasants Out at Disney

NOV. 12, 2013 • In less than a week after Disney Interactive showed its second recorded quarterly profit of $16 million for the quarter ending September 28, co-president John Pleasants left the division in a management shakeup that installs Jimmy Pitaro as president. Pleasants and Pitaro have managed Disney Interactive as co-presidents since 2010. Pleasants was acquired along with Playdom in.....

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